Stamp Duties Act 1920 (NSW)
An Act to impose certain stamp duties; to amend and consolidate the laws relating to stamp duties upon instruments and upon the estates of deceased persons; to amend the Friendly Societies Act 1899 and the Companies (Death Duties) Act 1901; and for purposes consequent thereon or incidental thereto.
This Act may be cited as the Stamp Duties Act 1920.
The following Divisions of Part 3 do not apply to instruments first executed on or after 1 July 1998:
Division No | Division heading |
2 | Agreements |
3 | Agreements for sale or conveyance |
3E | The Public Equity Partnership Arrangement and the Rent/Buy Scheme |
10 | Conveyances |
11 | Conveyances by possessory application |
11A | Copies of instruments |
12 | Deeds of assignment |
14 | Divorce—family law instruments |
16 | Duplicates or counterparts |
18 | Leases |
19 | Superannuation |
21 | Loan securities |
21A | Mortgage-backed securities |
21B | Loan-backed securities |
22 | Motor vehicle certificates of registration |
23 | Partitions or divisions |
25 | Replicas |
25A | Transfer of units in unit trust schemes |
26 | Shares—issue or allotment by direction |
27 (except Subdivision 3) | Shares—transfer |
28 | Transfer etc of certain mortgages and debentures |
28A | Transfer of shares—London Stock Exchange |
The Second Schedule does not apply to instruments first executed on or after 1 July 1998.
The following Divisions of Part 3 do not apply to transactions (or transactions of the kind specified in relation to a particular Division) that occur on or after 1 July 1998:
Division No | Division heading | Transaction |
3A | Transactions otherwise than by dutiable instruments | All transactions |
15 | Hiring arrangements | Hiring arrangements within the meaning of section 74D |
26A | SCH-regulated transfers | SCH-regulated transfers |
30 | Acquisitions of company and unit trust interests dutiable as conveyances of land | Acquisitions within the meaning of section 99A |
Division 24 of Part 3 does not apply to:
(a) the amount of a premium paid in relation to a policy of insurance, not being a policy of life insurance, or
(b) a policy of life insurance or a life insurance rider,
if the contract, policy or life insurance rider is effected or renewed on or after 1 July 1998.
Division 3B of Part 3 and Schedule 2A do not apply to contracts exchanged on or after 1 July 1998 or mortgages over land the subject of those contracts.
The Chief Commissioner may not, on or after 1 July 1998:
(a) approve a person for the purposes of Schedule 2B, or
(b) approve a rental-purchase agreement entered into or proposed to be entered into by an approved person.
Division 3D of Part 3 and Schedule 2C do not apply to contracts executed on or after 1 July 1998.
Subdivision 3 of Division 27 of Part 3 does not apply to sales or purchases made on or after 5 July 1998.
Division 21 of Part 3 does not apply to advances made on or after 1 July 1998 if the advances are secured only by a loan security within the meaning of section 83 that, if first executed on or after 1 July 1998, would not be a mortgage within the meaning of section 205 of the Duties Act 1997.
This section has effect despite any other provision of this Act.
The Acts mentioned in the First Schedule to this Act are to the extent therein mentioned hereby repealed, but such repeal shall be without prejudice to the past operation of anything in the said Act or the Schedules thereto.
All persons appointed under the Acts hereby repealed and holding office at the time of the passing of this Act shall be deemed to have been appointed hereunder.
All regulations made and forms prescribed under the authority of any Act hereby repealed and being in force at the time of the passing of this Act shall be deemed to have been made under this Act.
The Chief Commissioner appointed under this Act shall be the Commissioner for the purposes of the Acts repealed by this Act and the Acts repealed by such Acts.
In this Act, unless the context or subject-matter otherwise indicates or requires:
(a) shares in a corporation incorporated outside Australia, or
(b) units in a public unit trust scheme,
being shares or units that are quoted on the market operated by Australian Stock Exchange Limited.
(a) any stock or share of any municipal or other corporation, company or society,
(b) any debenture, debenture stock, bond or note or other security of a Government, or any right thereto, whether constituting a charge on the assets of the Government or not, and
(b1) any corporate debt security, and
(c) any CUFS or IR.
(a) mining in New South Wales for minerals within the meaning of the Mining Act 1992 or the Offshore Minerals Act 1999,
(b) prospecting or mining in New South Wales for petroleum within the meaning of the Petroleum (Onshore) Act 1991.
(a) for the payment of any definite and certain sum of money advanced or lent at the time or previously due or owing, or forborne to be paid, being payable, and
(b) for the repayment of money to be thereafter lent, advanced, or paid, or which may become due upon an account current together with any sum already advanced or due, or without, as the case may be.
(a) a motor vehicle or trailer within the meaning of the Traffic Act 1909, or
(b) a caravan.
(a) a public hospital under the control of an area health service within the meaning of the Health Services Act 1997, or
(b) a statutory health corporation or affiliated health organisation within the meaning of that Act.
(a) a unit trust scheme any of the units of which are listed for quotation on:
(i) the Australian Stock Exchange, or
(ii) any other stock exchange prescribed for the purposes of this definition, or
(b) a unit trust scheme:
(i) which is the subject of a deed approved under Division 5 of Part 7.12 of the Corporations Law or a corresponding law,
(ii) any of the units of which have been offered to the public, and
(iii) in respect of which no fewer than 50 persons hold units.
(a) a documentary record, or
(b) a record made by an electronic, electromagnetic, photographic or optical process, or
(c) any other kind of record.
(Repealed)
For the purposes of the definition of
(a) an offer is made to the public or to a section of the public to subscribe for or purchase the units, or
(b) an invitation is issued to the public or to a section of the public to make offers to subscribe for or purchase the units.
This Act is to be read together with the Taxation Administration Act 1996 which makes provision for the administration and enforcement of this Act and other taxation laws.
This section applies to the calculation of a period of time for the purposes of determining when the payment of duty is due, and when fines are incurred, under this Act.
A month is taken to be a period commencing at the beginning of a day of one of the 12 named months (within the meaning of the Interpretation Act 1987) and ending:
(a) at the end of the corresponding day of the next named month, or
(b) if there is no such corresponding day, at the end of the next named month.
A period of 2 or more months is taken to be a period commencing at the beginning of a day of one of the 12 named months (within the meaning of the Interpretation Act 1987) and ending:
(a) at the end of the corresponding day of the last named month within the period, or
(b) if there is no such corresponding day, at the end of that named month.
Section 36 (except subsection (1)) of the Interpretation Act 1987 applies to the calculation of a period of time to which this section applies.
From and after the commencement of this Act there shall be charged for the use of His Majesty and to form part of the Consolidated Revenue Fund upon and in respect of the several instruments and matters described or mentioned in this Act and in the Second and Third Schedules hereto the several duties and at the several rates in the Act and in the said Schedules specified, which duties shall be in substitution for the duties theretofore chargeable under the enactments repealed by this Act, and shall be subject to the exemptions contained in this Act and the said Schedules and in any other Act for the time being in force.
Despite any other provision of this Act or the regulations, if the amount of duty chargeable under this Act in respect of an instrument or transaction would, but for this section, be less than $2, the amount of duty chargeable is $2.
This section does not apply to or in respect of Division 24 or 29 of Part 3.
(Repealed)
Where any instrument has been duly stamped in accordance with the law in force before the appointed day and the stamp duty chargeable on any other instrument executed on or after such day is referable to such instrument, the duty chargeable on such other instrument shall be that which would be chargeable were the duty paid on the first mentioned instrument expressed on the basis referred to in section 11 of the Currency Act 1965 of the Parliament of the Commonwealth of Australia.
All stamp duties for the time being chargeable by law upon any instruments or matters specified in this Act shall be denoted and paid according to this Act and the regulations:
Provided that as from the appointed day duty on any instrument may be denoted in terms or in manner used in connection with the currency provided for by Part II of the Currency Act 1965 of the Parliament of the Commonwealth of Australia or any Act passed in amendment of or substitution for the same.
Except where express provision is made to the contrary by this Act or the regulations, all duties are to be denoted by impressed stamps only.
(Repealed)
The Schedules to this Act and everything therein contained shall be read and construed as part of this Act.
Where under this Act any instrument is exempted from duty the exemption shall not apply to any conveyance or other dealing with that instrument unless such conveyance or dealing is expressly exempted from duty.
(Repealed)
The Minister shall provide for denoting the several duties hereby imposed, such stamps or dies as may be required for the purposes of this Act, and do any other act which may be necessary for effectually collecting the said duties.
The Chief Commissioner may grant a licence to any person to deal in stamps at any place to be named in the licence.
The licence shall specify the full name and place of abode of the person to whom the same is granted.
(Repealed)
Every person is liable to a fine not exceeding 0.5 penalty unit who:
(a) not being duly licensed to deal in stamps, deals in any manner in stamps.
(b), (c) (Repealed)
Upon the sale of stamps to be dealt in by a licensee as aforesaid such discount shall be allowed to the purchasing licensee as the Minister directs.
The Chief Commissioner may cancel any licence granted under this section, and any licence may be granted on such terms and conditions as the Chief Commissioner thinks advisable.
The following instruments may be stamped with adhesive stamps:
(a) agreements under hand,
(b) transfers of shares (or rights to shares) of any corporation listed on the Australian Stock Exchange Limited, where the transfer is effected pursuant to a sale of the shares (or rights to shares) for full consideration in money or money’s worth,
(c) transfers of units in any unit trust scheme listed on the Australian Stock Exchange Limited, where the transfer is effected pursuant to a sale of the units for full consideration in money or money’s worth,
(d) leases in respect of greyhounds,
(e) leases in respect of racing or trotting horses,
(f) duplicates or counterparts of instruments that may themselves be stamped with adhesive stamps.
(Repealed)
A person having a stamped instrument which has failed in its intended operation and has become useless may apply, in the approved form, to the Chief Commissioner for a refund of the duty paid in respect of the instrument.
An application under subsection (1) is to be made within 1 year after the date on which the instrument fails and becomes useless.
A person having any spoiled or unused duty stamps may apply, in the approved form, to the Chief Commissioner for a refund of the duty paid for the spoiled or unused stamps.
An application under subsection (3) is to be made:
(a) in the case of an executed instrument—within 1 year after the date when the stamp was spoiled, or
(b) in the case of an unexecuted instrument or an adhesive stamp which is not fixed to an instrument—within 1 year after the date when the stamp was rendered useless.
A person:
(a) who has inadvertently used a stamp of greater value than was necessary for an instrument liable to duty, or
(b) who has inadvertently used a stamp for an instrument not liable to duty, or
(c) who has used an adhesive stamp where an adhesive stamp should not have been used,
may apply, in the approved form, to the Chief Commissioner to cancel the stamp misused and to treat it as spoiled.
An application under subsection (5) is to be made:
(a) in the case of an instrument which is dated—within 1 year after the date of the instrument, or
(b) in the case of an instrument which is not dated—within 1 year after the date of first execution of the instrument.
The Chief Commissioner may grant or refuse to grant an application under this section.
The granting of an application is subject to:
(a) the surrendering to the Chief Commissioner of the stamps or stamped instrument concerned, except in the case of an instrument which has been destroyed by the Registrar-General following the registration of the instrument by the Registrar-General, and
(b) the payment to the Chief Commissioner of commission of 5 per cent of the duty paid in respect of the stamped instrument or of the value of the spoiled or unused duty stamps.
The Chief Commissioner may destroy an instrument in respect of which an allowance has been made and which is not claimed within 3 months after the date of the allowance.
The Hardship Review Board constituted under Division 5 of Part 10 of the Taxation Administration Act 1996 may exercise its functions in relation to duty payable under this Act.
(Repealed)
Every instrument written on stamped material is to be written in such manner, and every instrument partly or wholly written before being stamped is to be so stamped, that the stamp may appear on the face of the instrument, and cannot be used for or applied to any other instrument written on the same piece of material.
If more than one instrument is written on the same piece of material, every one of such instruments is to be separately and distinctly stamped with the duty with which it is chargeable.
Except where express provision to the contrary is made by this or any other Act, an instrument containing or relating to several distinct matters is to be separately and distinctly charged with duty in respect of each of such matters, as if each matter were expressed in a separate instrument.
An instrument made for more than one consideration is to be charged with duty in respect of each such consideration, according to the rate with which each is chargeable, as though each consideration were expressed in a separate instrument.
A stamp which by any word or words on the face of it is appropriated to any particular description of instrument is not to be used, or if used is not to be available for any instrument of any other description.
An instrument falling under the particular description to which any stamp is so appropriated as aforesaid is not to be deemed duly stamped unless it is stamped with the stamp so appropriated.
(Repealed)
On any application to the Chief Commissioner with reference to any instrument, he may require to be furnished with an abstract of the instrument and also with such evidence on oath or otherwise as he deems necessary in order to show to his satisfaction whether all the facts and circumstances affecting the liability of the instrument to duty, or the amount of the duty chargeable thereon, are fully and truly set forth therein, and may refuse to proceed on any such application until such evidence has been furnished accordingly.
No oath, affidavit, or statutory declaration made in pursuance of this section shall be used against any person making the same in any proceeding whatsoever, except in a prosecution for perjury, false swearing, or making or uttering a false or untrue statutory declaration in case it is false, and except in an inquiry as to the duty with which the instrument to which it relates is chargeable, and, except as provided by the next succeeding section, every person by whom any such oath, affidavit, or declaration is made shall, on payment of the full duty and fine with which the instrument to which it relates is chargeable, be relieved from any other fine, forfeiture, or disability he may have incurred by reason of the omission to state truly in such instrument any of the facts or circumstances aforesaid.
Every person who, with intent to defraud His Majesty:
(a) executes any instrument in which all the said facts and circumstances are not fully and truly set forth, or
(b) being employed or concerned in or about the preparation of any instrument, neglects or omits fully and truly to set forth therein all the said facts and circumstances,
is liable to a fine of 50 penalty units in the case of a corporation and 20 penalty units in any other case in addition to the amount of duty of which His Majesty has been deprived by any such fraudulent act as aforesaid.
An instrument the duty on which is required or permitted by law to be denoted by an adhesive stamp is not to be deemed duly stamped until a person cancels the stamp by writing or impressing or marking in ink on or across the stamp his name or initials, or the name or initials of his firm, together with the true date of his so writing, so that the stamp may be effectually cancelled and rendered incapable of being used for any other instrument.
(Repealed)
Every person who:
(a) fraudulently removes or causes to be removed from any instrument any adhesive or impressed stamp, or affixes to any instrument any adhesive or impressed stamp which has been removed from any other instrument with intent that such stamp may be used again, or
(b) knowingly sells or offers for sale, or utters any adhesive or impressed stamp which has been removed from any instrument, or utters any instrument having thereon an adhesive or impressed stamp which, to his knowledge, has been so removed as aforesaid, or
(c) practises or is concerned in any fraudulent act, contrivance, or device with intent to evade any duty under this Act,
shall be liable to a fine of 0.5 penalty unit over and above any other penalty to which he may be liable.
Nothing in this section shall affect the liability of any such person to be prosecuted under any other statute or at Common Law.
If a person whose duty it is to enrol or register instruments or to enter instruments in or on any records enrols, registers or enters:
(a) an instrument chargeable with duty which is unstamped or insufficiently stamped, or
(b) an instrument made or executed on or after 21 November 1986 in respect of a transaction to which Division 3A of Part 3 applies, unless:
(i) an instrument executed for the purpose of effecting that transaction has been sufficiently stamped, or
(ii) any statement required to be lodged under section 44A in respect of the transaction has been lodged and the duty and any fine with which the statement is chargeable have been paid,
the person shall incur a fine not exceeding 5 penalty units for each offence.
No instrument which is marked as sufficiently or fully or duly stamped, or as not liable to stamp duty shall, for the purposes of this section, be deemed to be unstamped or insufficiently stamped.
It is a defence to a prosecution for an offence against this section in respect of the enrolling, registering or entering of an instrument referred to in subsection (1) (b) if it is proved that the defendant did not know and could not reasonably be expected to have known that the instrument was an instrument so referred to.
Except where other express provision is made by this or any other Act, a person primarily liable with respect to any instrument chargeable with duty shall cause it to be duly stamped or, in accordance with the provisions of section 41 (5), 42 (7) or 78D (5), marked “interim stamp only”:
(a) where it was first executed on or after 20th October 1982 and before the date of assent to the Stamp Duties (Further Amendment) Act 1982—within 6 months after that date of assent, or
(b) where it was first executed on or after that date of assent—within 6 months after it was first executed.
Maximum penalty: 100 penalty units.
(Repealed)
For the purposes of this Act an instrument is deemed to be first executed the first time that it is signed and sealed, or signed (as the case may be) by any party thereto:
Provided that if the instrument is ineffective by reason of a failure of the necessary parties to execute it, a refund may be made of any money paid for stamping:
Provided further that a contract made by acceptance of an offer contained in any instrument shall be deemed first executed when the offer is accepted.
On the production of an instrument chargeable with stamp duty as evidence in any court of civil judicature, the officer whose duty it is to read the instrument shall call the attention of the Judge to any omission or insufficiency of the stamp thereon, and if the instrument is one which may legally be stamped after execution it may, on payment to such officer of the amount of the unpaid duty and the fine payable by law, be received in evidence, saving all just exceptions on other grounds.
Such officer shall detain and immediately transmit to the Chief Commissioner the instrument, together with the duty and fine so paid thereon, and the payment thereof shall be denoted on such instrument accordingly.
In proceedings in any court secondary evidence of an instrument may, saving all just exceptions on other grounds, be admitted notwithstanding that such instrument is subject to stamp duty and has not been duly stamped, if the amount of the stamp duty or the amount of the deficiency of the stamp duty and any fine imposed by this Act are paid to an officer of the court and if the instrument is one which may legally be stamped after execution.
In any proceedings in any court, secondary evidence of an instrument made or executed on or after 21 November 1986 in respect of a transaction to which Division 3A of Part 3 applies may, saving all just exceptions on other grounds, be admitted if:
(a) an instrument executed for the purpose of effecting that transaction has been sufficiently stamped, or
(b) any statement required to be lodged under section 44A in respect of the transaction has been lodged and the duty and any fine with which the statement is chargeable have been paid.
Except as aforesaid, no instrument executed in New South Wales or relating (wheresoever executed) to any property situate or to any matter or thing done or to be done in any part of New South Wales, shall, except in criminal proceedings, be pleaded or given in evidence, or admitted to be good, useful, or available in law or equity for any purpose whatsoever, unless it is duly stamped in accordance with the law in force at the time when it was first executed: Provided that any instrument chargeable with duty before the appointed day shall be deemed to be duly stamped in accordance with the law in force at the time when it was first executed, notwithstanding that the duty chargeable on such instrument is denoted in terms of the currency provided for by Part II of the Currency Act 1965 of the Parliament of the Commonwealth of Australia or any Act passed in amendment of or substitution for the same.
Subsection (1) of this section applies to and in respect of an unexecuted copy of an instrument referred to in that subsection (being an instrument that was first executed on or after 20th October 1982) in the same way as it applies to the instrument unless:
(a) the court is satisfied that the instrument of which it is a copy is duly stamped, or
(b) the copy is duly stamped in accordance with section 73D.
No instrument made or executed (whether in New South Wales or elsewhere) on or after 21 November 1986 in respect of a transaction to which Division 3A of Part 3 applies, shall, except in criminal proceedings, be pleaded or given in evidence, or admitted to be good, useful, or available in law or equity for the purpose of proving that a change in beneficial ownership to which the transaction relates occurred, unless:
(a) an instrument to effect that transaction has been sufficiently stamped, or
(b) any statement required to be lodged under section 44A in respect of the transaction has been lodged and the duty and any fine with which the statement is chargeable have been paid.
Sections 27 and 28 and this section do not apply to an instrument or a copy of an instrument tendered as evidence on behalf of a party (not being a person who is primarily liable to duty in respect of the instrument) if the court is satisfied:
(a) that the party has informed, or will in accordance with arrangements approved by the court inform, the Chief Commissioner of the name of the person primarily liable to duty in respect of the instrument, and
(b) that the party will, in accordance with arrangements approved by the court, lodge the instrument or a copy of the instrument with the Chief Commissioner.
No instrument executed out of New South Wales, and which by the law of the country in which it was executed is inadmissible in evidence in such country by reason of not having been stamped, shall be for such reason inadmissible in evidence in New South Wales, unless it is proved that such instrument is, by the statute law of such country, expressly made void if made or executed without being stamped.
Nothing herein shall be deemed to render valid in New South Wales any instrument executed out of New South Wales which is void by the law of the place in which the same was executed for any other reason than that the same was not duly stamped.
Where the duty with which an instrument is chargeable depends in any manner upon the duty paid upon another instrument the payment of the lastmentioned duty shall upon application to the Chief Commissioner and production of both the instruments, be denoted upon the firstmentioned instrument in such manner as the Chief Commissioner thinks fit.
(Repealed)
Where an instrument is chargeable with ad valorem duty in respect of any marketable security, such duty shall be calculated on the price of such security as quoted in any stock or share market in or out of New South Wales, or on the average value according to the best evidence that can be obtained of such security on the day of the date of the instrument.
Where an instrument contains a statement of current rate of exchange, or quoted price, or average value, and is stamped in accordance with such statement, it is, so far as regards the subject-matter of such statement, to be deemed duly stamped.
If such statement is proved to be untrue, the deficient duty and fine may be recovered.
After assessing a document, the Chief Commissioner may:
(a) stamp the document to indicate that it is not liable to duty, or
(b) stamp the document to indicate:
(i) that a specified amount of duty has been paid, and
(ii) that the document is duly stamped.
For the purposes of this Act, the stamping of an instrument (excluding a return) by the Chief Commissioner is taken to be an assessment of the duty (and, where relevant, of any fine) payable under this Act in respect of the instrument.
(Repealed)
If it appears that the Chief Commissioner has stamped an instrument having assessed an insufficient amount of duty or fine thereon, or erroneously or improperly put on the same a stamp denoting that it is not liable to duty or is duly stamped, the Chief Commissioner may at any time call upon the person on whose behalf the instrument was presented for assessment to pay the amount with which in his opinion such instrument was properly chargeable in respect of duty or fine, or both duty and fine, at the time of stamping the same.
If it appears that the Chief Commissioner has assessed an insufficient amount of duty or fine in respect of an assessment under section 127B (Default assessment of stamp duty), the Chief Commissioner may at any time call upon the person liable to pay the duty the subject of the assessment to pay the amount which, in the opinion of the Chief Commissioner, was properly chargeable in respect of duty or fine, or both duty and fine, at the time the assessment was issued.
An amount payable under this section shall be a debt due to the Crown, and may be recovered from such person accordingly: Provided
(a) that such person, if dissatisfied, may object or appeal against the decision of the Chief Commissioner under section 124, the provisions of which shall, mutatis mutandis, apply, and
(b) that the instrument stamped under subsection (1) shall be as good and available for all purposes as though full duty and fine had been paid thereon.
Every person primarily liable with respect to any instrument or matter of the nature mentioned in this Act is personally liable to the Crown for the payment of the duty so chargeable on such instrument immediately upon the first execution thereof, and every such person may be sued for the amount of such duty as for a debt due to the Crown.
Every person required by this Act to lodge a return and to pay stamp duty under the provisions of Part 3 of this Act is personally liable to the Crown for the payment of the duty immediately upon the duty becoming payable, and every such person may be sued for the amount of the duty as for a debt due to the Crown.
If a person required by this Act to lodge a statement and to pay duty under the provisions of Division 3A or 30 of Part 3 fails or refuses to lodge the statement, or the Chief Commissioner is not satisfied with the statement lodged, and an assessment is issued under section 127B, the person is personally liable to the Crown for the payment of the duty immediately upon the duty becoming payable, and the person may be sued for the amount of the duty as for a debt due to the Crown.
Nothing herein shall be deemed to exonerate any other person from any liability imposed upon him by or under this Act, or to exempt any instrument or matter from any duty or disability to which it is liable under this Act.
(Repealed)
Any instrument executed by the Public Trustee under his seal of office which if made by an individual would not be required by law to be under seal shall not be liable to a higher stamp duty by reason only of the use of such seal.
Any person may apply to the Chief Commissioner in a form approved by him for approval to pay duty in respect of any class of instruments in accordance with the provisions of this section.
The Chief Commissioner may approve or refuse an application made under subsection (1) of this section but shall not approve of such an application if the instruments of the class in respect of which it is made are instruments in respect of which the Chief Commissioner may, under any other provision of this Act, grant the applicant an approval to pay duty as an approved person under that provision.
Where the Chief Commissioner approves an application made under subsection (1) of this section, he shall in the approval specify the date upon which the approval comes into force and the class of instruments to which the approval relates.
A person whose application under subsection (1) of this section has been approved by the Chief Commissioner is, while the approval is in force, an approved person for the purposes of this section.
Except as provided in this section, an approved person is not liable to pay duty in respect of any instrument of a class to which his approval relates.
An approved person shall make a record at such times and of such particulars relating to an instrument of a class to which his approval relates as the Chief Commissioner may, by notice in writing given to him, require.
An approved person shall:
(a) lodge with the Chief Commissioner a return in respect of any instrument of a class to which his approval relates at such times, in respect of such periods, in such form and containing such particulars as may be notified to him in writing by the Chief Commissioner, and
(b) when he lodges that return, pay to the Chief Commissioner as stamp duty an amount equal to the amount of stamp duty that would, but for the provisions of subsection (5) of this section, have been payable in respect of each instrument to which the return relates.
In the case of an approval relating to loan securities and related instruments, an approved person must:
(a) stamp the instruments with the stamp or stamps issued to the person by the Chief Commissioner for the purposes of this section and complete the particulars specified in the stamp or stamps, or
(b) endorse the instruments in the manner approved by the Chief Commissioner and comply with such directions as may be given by the Chief Commissioner from time to time with respect to the electronic or other recording of specified particulars of or relating to advances secured by or under the instruments.
In any other case, the approved person must endorse on an instrument of a class to which the approval relates the words “Stamp Duty” followed by the distinguishing number of the approval allocated to the person by the Chief Commissioner for the purposes of this section.
Instruments stamped or endorsed in accordance with subsection (8) are taken to be stamped.
A person making any record in accordance with subsection (6) of this section shall retain the record for a period of 2 years.
A person who contravenes subsection (6), (7) or (10) of this section is liable to a fine not exceeding 5 penalty units.
Any person, not being an approved person, who endorses on an instrument any words or numbers suggesting or implying that the instrument is duly stamped under the provisions of this section is liable to a fine not exceeding 5 penalty units.
The Chief Commissioner may, by notice in writing, cancel any approval granted under this section:
(a) on application by the person to whom the approval was granted, or
(b) for any reason he deems sufficient,
and shall in any such notice specify the date on and from which the approval ceases to be in force.
An approval so cancelled shall cease to be in force on and from the date specified in the notice by which the approval is cancelled.
The Taxline system enables an approved person, in accordance with arrangements made under this section:
(a) to obtain an assessment of stamp duty (and any fine) on an instrument by electronically transmitting information concerning the instrument to the Chief Commissioner, and
(b) to pay stamp duty (and any fine) on the instrument by electronic funds transfer in accordance with the assessment, and
(c) to stamp the instrument by fixing an adhesive label to it which bears an authorisation number issued for the instrument by the Chief Commissioner and such other particulars as are determined by the Chief Commissioner and which is in a form approved by the Chief Commissioner,
without the need for the instrument to be produced to the Chief Commissioner.
A person may apply to the Chief Commissioner for approval to use the Taxline system.
An application is to be made in the form approved by the Chief Commissioner.
The Chief Commissioner may approve or refuse an application.
If the Chief Commissioner approves an application, the Chief Commissioner is to specify the terms of the approval, the date on which the approval commences and the instruments to which the approval applies.
A person whose application is approved is, while the approval remains in force, an approved person for the purposes of this section.
An approval may be amended at any time:
(a) by agreement between the Chief Commissioner and the approved person, or
(b) by written notice given by the Chief Commissioner to the approved person.
An approval remains in force until it is cancelled by the Chief Commissioner or until the approved person surrenders it.
The Chief Commissioner may cancel an approval at any time for any reason and without the necessity to give prior notice to the approved person. The Chief Commissioner must give written notice to the person of the cancellation.
For the purposes of this Act, the issue, under the Taxline system, of an adhesive label for an instrument by the Chief Commissioner comprises an assessment of the duty (and any fine) in relation to the instrument.
An approved person for the purposes of section 38D, or a person authorised by the approved person, must, on receipt of an adhesive label bearing the authorisation number issued for the instrument by the Chief Commissioner, fix the adhesive label to the face of the instrument.
An instrument is taken to be stamped if there is fixed to the face of it an adhesive label bearing the authorisation number issued for the instrument by the Chief Commissioner.
An adhesive label is not an adhesive stamp for the purposes of this Act.
A person who:
(a) sells an adhesive label or offers an adhesive label for sale, or
(b) fraudulently utters an adhesive label, or
(c) fraudulently fixes an adhesive label to an instrument other than the instrument for which the adhesive label was issued, or
(d) fraudulently removes an adhesive label, or fraudulently causes an adhesive label to be removed, from an instrument, or
(e) fraudulently utters an instrument to which an adhesive label is fixed knowing that the adhesive label was not issued for that instrument, or
(f) in relation to an adhesive label, practises or is concerned in any fraudulent act, contrivance or device with the intention of evading duty under this Act,
is liable to a fine not exceeding 50 penalty units.
In this section,
An instrument which the Chief Commissioner is satisfied:
(a) is executed in order to vary or replace an earlier instrument, and
(b) would not have caused a greater amount of duty to be chargeable if the earlier instrument had been varied or replaced by the later instrument before the earlier instrument became chargeable with duty,
is subject to a credit of the amount of duty paid in respect of the earlier instrument, except as provided by subsection (2).
The minimum amount of duty payable in respect of any such instrument is $10.
This section does not apply to or in respect of a loan security (within the meaning of section 83).
The duty on an agreement under hand other than an agreement chargeable with ad valorem duty may be denoted by an adhesive stamp.
(Repealed)
The interest created by an agreement by which an option is given or taken to purchase or sell any property in New South Wales (other than stock, a marketable security or a unit in a unit trust scheme) shall be deemed to be property for the purposes of this Act, and the agreement shall be liable to duty as an agreement for the sale or conveyance of property in New South Wales accordingly.
The ad valorem duty chargeable on the agreement, if any, made in pursuance of and by the exercise of the option shall be reduced by the amount of the ad valorem duty paid on the agreement creating the option.
This section does not apply to an agreement by which an option is given or taken in accordance with an approved rental-purchase agreement under Schedule 2B.
This section does not apply to an option on which duty is paid or payable under section 40B (1).
If both an option to purchase any property (other than stock, a marketable security or a unit in a unit trust scheme) and an option to sell the property are in force at the same time, and they involve the same purchasers and vendors, any instrument creating the options is liable to ad valorem duty as if it were a conveyance of the property. However, if more than one instrument is liable under this subsection as if it were a conveyance of the same property, only one of the instruments is to be charged with the ad valorem duty. Each of the other instruments is to be charged with duty of $10.
Any instruments assigning options to purchase and sell property referred to in subsection (1) are liable to ad valorem duty in the same way as those options. However, if more than one instrument is liable under this subsection as if it were a conveyance of the same property, only one of the instruments is to be charged with the ad valorem duty. Each of the other instruments is to be charged with duty of $10.
An agreement made in pursuance of and by the exercise of an instrument for which ad valorem duty has been paid under this section is liable to duty of $10.
Any conveyance of property in pursuance of any instrument for which ad valorem duty has been paid under this section, or in pursuance of an agreement for which duty has been paid under this section, is liable to duty of $2.
The persons liable to pay the duty are the parties to the instrument.
If options to purchase and sell any property (other than stock, a marketable security or a unit in a unit trust scheme), in force at the same time, and involving the same purchasers and vendors (whether or not as assignees of previous purchasers and vendors), expire without being exercised, the options are liable to duty under section 40A instead of section 40B.
The difference between any duty paid by a person under section 40B, and that payable by the person under section 40A, less $25, must be refunded to the person or the person’s executors, administrators or assigns.
Application for a refund is to be made in the form approved by the Chief Commissioner not later than 12 months after the duty first becomes payable under section 40A instead of section 40B.
Every agreement for the sale or conveyance of any property in New South Wales shall be charged with the same ad valorem duty to be paid by the purchaser or person to whom the property is agreed to be conveyed as if it were a conveyance of the property agreed to be sold or conveyed and shall be stamped accordingly.
An agreement for the exchange of any property for any other property shall for the purposes of this Act be deemed to be an agreement for the sale of the property to be exchanged.
Where the agreement is constituted or evidenced by two or more instruments, not being instruments to which subsection (3A) of this section applies, it shall be sufficient if any one of such instruments is stamped with the duty aforesaid.
Where there are executed two or more agreements for the sale or conveyance of separate parts of, or separate estates or interests in, any property in New South Wales:
(a) pursuant to one transaction relating to the whole of the property, or
(b) that together evidence or give effect to what is, substantially, one transaction relating to the whole of the property,
one of the agreements shall be charged with the same ad valorem duty to be paid by the purchaser or person to whom the property is agreed to be conveyed as if it were a conveyance of the property agreed to be sold or conveyed for the total consideration for the whole of the property to which the transaction relates and shall be stamped accordingly and the other agreement or agreements shall be charged with the duty of $10 each.
For the purposes of subsection (3A) of this section, where there are executed two or more agreements for the sale or conveyance of separate parts of, or separate estates or interests in, any property in New South Wales:
(a) between the same parties or between different parties who are related persons (within the meaning of Division 30, as provided by section 99A (8)), and
(b) within, or apparently within, a period of 12 months of each other,
the agreements shall, unless the Chief Commissioner is satisfied that it would not be just and reasonable in the circumstances, be deemed to have been executed pursuant to one transaction relating to the whole of the property.
(Repealed)
(a) Where duty has been duly paid in conformity with the foregoing provisions of this section, the conveyance made in conformity with the agreement or agreements shall not be chargeable with ad valorem duty, but shall be chargeable with a duty of $2, provided that where the ad valorem duty charged on such agreement (or in case there is more than one of such agreements on the agreement carrying the highest ad valorem duty) is less than $2, the said ad valorem duty or the said highest ad valorem duty as the case may be shall be chargeable in place of the said duty of $2.
(b) The Chief Commissioner upon application and on production of the conveyance and the agreement or agreements leading thereto, duly stamped as aforesaid, or on production of the conveyance and on his being satisfied that the agreement or agreements are duly stamped and subject to the next succeeding section, shall mark the conveyance as duly stamped.
In case the full amount on which ad valorem duty is payable cannot be immediately ascertained the duty may be paid upon so much (if any) thereof as is ascertainable, and the agreement may be stamped accordingly and marked “interim stamp only”, and where so stamped may be admitted in evidence, subject to subsection (6). The balance of such duty shall be paid as soon as the same is ascertained or assessed by the Chief Commissioner, and thereupon and upon payment of the fine (if any) the agreement shall be stamped with the amount of such balance and shall be marked as duly stamped.
An agreement may not be admitted in evidence under subsection (5) unless the Chief Commissioner has issued a certificate in writing to the effect that the full amount on which ad valorem duty is payable cannot be immediately ascertained, and that certificate is in force. Such a certificate remains in force for 3 months after it is issued, but a further certificate may be issued at any time.
(a) In case the agreement is afterwards rescinded or annulled the ad valorem duty paid thereon shall be refunded by the Chief Commissioner to the party to the agreement by whom or on whose behalf the duty was paid, or to his executors, administrators, or assigns. Application for the refund shall be made in or to the effect of the form approved by the Chief Commissioner within twelve months of the agreement being rescinded or annulled.
(b) There shall be deducted from the amount of any such refund:
(i) $25, and
(ii) the amount of any duty, other than ad valorem duty, to which the instrument may be liable.
(ba) An agreement which is rescinded or annulled within 2 months after it was first executed and before it was duly stamped is liable to a payment of $25 instead of ad valorem duty. The person primarily liable to make the payment is the purchaser.
(bb) An application for an agreement to be dealt with under paragraph (ba) is to be made in the approved form within 12 months after the rescission or annulment.
(c) This subsection shall not apply if the Chief Commissioner is of the opinion that a subsequent sale of the property is a transaction within the meaning of a subsale notwithstanding that the subsequent conveyance or transfer is executed by the person who was the vendor in the cancelled contract.
(d) The agreement is not liable to duty merely because, by virtue of the rescission or annulment, the agreement operates to convey the deposit paid under the agreement to the vendor.
If, under section 66M of the Conveyancing Act 1919, in relation to a duly stamped agreement (whether executed before or after the commencement of this subsection):
(a) the consideration expressed in the agreement is reduced, or
(b) the purchaser recovers an amount from the vendor as a debt,
the person who paid the duty may apply to the Chief Commissioner, on a form approved by the Chief Commissioner, for a further assessment of the ad valorem duty and a refund of the difference (if any) between the duty as paid and the duty as further assessed.
The Chief Commissioner, on application under subsection (7A), may make a further assessment of the ad valorem duty in relation to the agreement which shall be calculated on the amount on which duty was previously assessed less:
(a) any amount by which the consideration expressed in the agreement was reduced, or
(b) any amount recovered by the purchaser from the vendor as a debt.
An amount of $25 shall be deducted from the amount of any refund under subsection (7A).
An application under subsection (7A) for a refund shall be made within 12 months after the consideration expressed in the agreement is reduced or the purchaser recovers an amount from the vendor as a debt.
This section applies only to agreements made after the passing of this Act.
(Repealed)
If the Chief Commissioner is satisfied that:
(a) after an agreement for the sale or conveyance of property is first executed and before the property is conveyed, the consideration under the agreement is reduced by another instrument, and
(b) the reduced consideration is not less than the unencumbered value of the property to be conveyed as at the date of first execution of that other instrument,
the Chief Commissioner must assess or reassess the liability of the agreement to duty in accordance with the reduced consideration.
Where any property has been agreed to be sold for one consideration for the whole, and is conveyed to the purchaser in separate parts or parcels by different instruments, the consideration shall be apportioned in such manner as the parties think fit, so that a distinct consideration for each separate part or parcel shall be set forth in the conveyance relating thereto.
Where any property agreed to be purchased for one consideration for the whole by two or more persons jointly, or by any person for himself and others, or wholly for others, is conveyed in parts or parcels by separate instruments to the persons by or for whom the same was purchased for distinct parts of the consideration, each such part of the consideration shall be set forth in the conveyance of each separate part or parcel.
Where any property is agreed to be purchased by two or more persons otherwise than as joint tenants, the contract for such purchase shall specify the aliquot part to be taken by each purchaser, and in the absence of such specification the purchasers shall for the purposes of this Act be deemed to have purchased the property in equal shares.
(a) Where property is sold, but not conveyed, to any person, and is subsequently subsold to another person or other persons in succession as subpurchasers, the instrument whereby each sale or subsale is effected shall be liable to ad valorem stamp duty as if it were a conveyance to the purchaser and each subpurchaser from his immediate vendor, and if the said duty is not paid on any of such instruments the amount of such unpaid duty, together with any fine payable in respect thereof, shall be paid as an additional duty on the conveyance to the ultimate purchaser.
(b) Notwithstanding any stipulation to the contrary the ultimate purchaser shall be entitled to deduct any such unpaid duty and fine (other than that on the instrument of subsale to himself) from any consideration payable by him under his agreement of purchase.
Where the instruments of the sale and of the subsales have been duly stamped with ad valorem duty in conformity with the foregoing provision, the conveyance by the original vendor to the ultimate purchaser shall be chargeable with a duty of one dollar, and on payment thereof shall be marked as duly stamped: Provided that where the ad valorem duty on such of the said instruments as carries the highest ad valorem duty is less than one dollar, the amount of such highest ad valorem duty shall be chargeable in place of the said duty of one dollar.
Where a vendor of any property conveys the same or part thereof by direction, whether written or oral, to any person other than the original purchaser or to the original purchasers in shares other than those in which they purchased the property, such conveyance shall set forth the consideration for every direction or agreement whether written or oral leading thereto, and shall be liable to additional duty equal in amount to the ad valorem duty which would have been payable if each of such agreements or directions had been an actual conveyance. This provision shall not apply to cases where each of such agreements or directions has been duly stamped as provided by this Act.
Every instrument purporting to be a conveyance or an agreement to convey any property in which the name of the purchaser or conveyee is not written in ink or indelible pencil shall not be stamped until the name of the purchaser or conveyee is written therein in ink or indelible pencil:
Provided that this subsection shall not apply to an instrument purporting to be a transfer of any marketable security.
In case the full amount on which ad valorem duty is payable cannot be immediately ascertained, the duty may be paid upon so much (if any) thereof as is ascertainable and the conveyance may be stamped accordingly and marked “interim stamp only”, and when so stamped shall be admissible in evidence. The balance of such duty shall be paid as soon as the same is ascertained or assessed by the Chief Commissioner, and thereupon and upon payment of the fine (if any) the conveyance shall be stamped with the amount of such balance and shall be marked as duly stamped.
A conveyance or agreement for the sale or conveyance of goods, wares or merchandise:
(a) if under seal—is chargeable with a duty of $10 but is otherwise exempt from duty, or
(b) if under hand—is exempt from duty,
so far as the conveyance or agreement relates to the goods, wares or merchandise only.
Subsection (1) does not apply to any goods, wares or merchandise included in a conveyance or agreement to which section 43A applies, unless they are goods, wares or merchandise referred to in section 43B.
The parties to the conveyance or agreement are primarily liable for the duty chargeable under this section.
In this section:
In this section, a reference to a conveyance of goods, wares or merchandise is a reference to a conveyance of goods, wares or merchandise, not being a conveyance made in conformity with an agreement for the sale or conveyance of goods, wares or merchandise.
If:
(a) one conveyance of property (being goods, wares or merchandise) and other property is made,
(b) one agreement for the sale or conveyance of property (being goods, wares or merchandise) and other property is made, or
(c) one agreement is made with respect to property (being goods, wares or merchandise) and other property and part of the agreement is for the sale or conveyance of some or all of the other property,
the conveyance or the agreement shall, except in so far as the Chief Commissioner is satisfied that it would not be just and reasonable in the circumstances, be charged with ad valorem duty (to be paid by the person to whom the property is to be conveyed or by the purchaser or person to whom the property is agreed to be conveyed) at the rates specified in the Second Schedule under the heading “Conveyances of Any Property” on the whole of the property to which the conveyance or the agreement relates and shall be stamped accordingly.
If:
(a) 2 or more arrangements are entered into with respect to property (being goods, wares or merchandise) and other property:
(i) pursuant to one transaction relating to the whole of the property, or
(ii) that together evidence or give effect to what is, substantially, one transaction relating to the whole of the property, and
(b) at least one of the arrangements is:
(i) a conveyance, or
(ii) an agreement for the sale or conveyance,
of some or all of the other property,
the conveyance or the agreement, or one of the conveyances or agreements, shall be charged with the same ad valorem duty (to be paid by the person to whom the property is conveyed or by a purchaser or person to whom the property is agreed to be conveyed) as if it were a conveyance of the whole of the property to which the transaction relates and shall be stamped accordingly and such of the other arrangements as are written shall be charged with the duty of $10 each.
If:
(a) the ad valorem duty to be charged under subsection (2) or (3) in respect of the whole of any property would, but for this subsection, be calculated separately in respect of different component parts of the property, and
(b) the amount of duty would be greater if it were calculated on an aggregation of the relevant amounts or values applicable to those component parts,
the duty shall be calculated on the basis described in paragraph (b).
If 2 or more arrangements are entered into with respect to property (being goods, wares or merchandise) and other property:
(a) between the same parties or between different parties who are not at arms’ length, and
(b) within, or apparently within, a period of 12 months of each other,
the arrangements shall, except in so far as the Chief Commissioner is satisfied that it would not be just and reasonable in the circumstances, be deemed to have been entered into pursuant to one transaction relating to the whole of the property.
A person:
(a) who makes or is otherwise engaged or concerned in the preparation of an instrument referred to in subsection (2) or (3), and
(b) who does not disclose, in writing to the Chief Commissioner:
(i) upon submission by the person or any other person of the instrument to the Chief Commissioner for stamping, or
(ii) when required by the Chief Commissioner to do so,
the relevant amounts or values on which subsection (2) or (3) requires ad valorem duty to be charged in respect of that instrument,
shall be guilty of an offence and liable to a fine not exceeding 10 penalty units.
It is a defence to a prosecution under subsection (6):
(a) that the defendant did not know and could not reasonably be expected to have known the relevant amounts or values required to be disclosed by that subsection, or
(b) that a person to whom that subsection applies, other than the defendant, did, in relation to the instrument referred to in subsection (2) or (3) in respect of which the prosecution is brought, disclose the relevant amounts or values required to be disclosed by subsection (6).
The provisions of section 41 (4), (5) and (7) apply to and in respect of an agreement duly stamped in accordance with this section in the same way as they apply to and in respect of an agreement duly stamped in accordance with section 41.
Goods, wares or merchandise are exempt from section 43A, so far as they are:
(a) stock-in-trade held or used in connection with a business,
(b) goods, wares or merchandise held or used in connection with land used for primary production, or
(c) goods, wares or merchandise of a prescribed class or description,
and section 43A accordingly does not apply to or in respect of the goods, wares or merchandise so exempt.
If goods, wares or merchandise included in a conveyance of goods, wares or merchandise or an agreement are eligible for the exemption, and the conveyance of goods, wares or merchandise or the agreement also relates to another matter for which duty is payable, the exemption does not apply unless:
(a) a claim is made for the exemption, and
(b) particulars of and the respective values of the goods, wares and merchandise for which the exemption is claimed, and an apportionment of the purchase money, are fully set out in the conveyance of goods, wares or merchandise or the agreement.
The Chief Commissioner may exercise any of the powers conferred by section 68 with respect to the claim.
The duty of $10 under section 43 does not apply if other duty is payable because the exemption does not apply.
In this section:
(a) the cultivation of the land for the purpose of selling the produce of the cultivation,
(b) the maintenance of animals or poultry on the land for the purpose of selling them or their natural increase or bodily produce,
(c) the keeping of bees on the land for the purpose of selling their honey,
(d) a nursery within the meaning of the Horticultural Stock and Nurseries Act 1969, being a nursery in respect of which a person is registered under that Act as a nurseryman, or
(e) the propagation for sale of mushrooms, orchids or flowers.
This Division applies to a transaction which, on or after 21 November 1986, causes or results in a change in the beneficial ownership of an estate or interest in:
(a) land situated in New South Wales,
(b) goods, wares or merchandise situated in New South Wales, being goods, wares or merchandise sold or conveyed with other property situated in New South Wales, being property of the kind referred to in paragraph (a), (c), (d), (e) or (f) or prescribed, or of a class prescribed, for the purposes of this subsection,
(c) the goodwill in New South Wales of a business carried on in New South Wales,
(d) a lease of land situated in New South Wales,
(e) an interest in a partnership, in so far as the interest relates to property of the partnership, being property of the kind referred to in paragraph (a), (b), (c), (d) or (f) or prescribed, or of a class prescribed, for the purposes of this subsection,
(f) shares or rights to shares of a NSW company or of a corporation incorporated outside Australia which are registered on a register of members of the corporation kept in New South Wales, or
(g) property prescribed, or of a class prescribed, for the purposes of this subsection.
This Division applies to a transaction which, on or after 1 January 1991, causes or results in a change in the beneficial ownership of an estate or interest in units in a unit trust scheme, being units which are:
(a) registered on a register kept in New South Wales, or
(b) registered on a register kept outside New South Wales, if the manager of the unit trust scheme is a NSW company or a person resident in New South Wales.
This Division applies to a transaction which, on or after the date of assent to the State Revenue Legislation (Amendment) Act 1994, involves the redemption and issue to another person of shares which confer an exclusive right to occupation of a company title dwelling, whether or not the company is a NSW Company or has a register of members in New South Wales.
A reference to a change in beneficial ownership in this section does not include a reference to a change in beneficial ownership occurring as the consequence of:
(a) the appointment of a receiver or trustee in bankruptcy,
(b) the appointment of a liquidator,
(c) the making of a compromise or arrangement under Part VIII of the Companies (New South Wales) Code which has been approved by the court,
(d) the issue or redemption of units in a unit trust scheme,
(e) the surrender of a lease,
(f) the transfer or conveyance of any estate or interest in property as a security, including the pledging or charging of property, or
(g) the release or termination of an option for the purchase of property.
If a transaction to which this Division applies by virtue of subsection (1A) also causes or results in a change in the beneficial ownership of an estate or interest specified in subsection (1), this Division does not apply in relation to that change.
This Division does not apply to:
(a) an SCH-regulated transfer within the meaning of section 9 of the Corporations Law, or
(b) a transaction that (by reason of the issue, surrender, exchange, transfer or other disposition of American Depositary Shares or of American Depositary Receipts that relate to American Depositary Shares) causes or results in a change in the beneficial ownership of an estate or interest in shares, or of rights to shares, in a corporation incorporated in New South Wales or a company incorporated outside Australia that has a register in New South Wales, or
(c) a transaction, or any property, prescribed by the regulations for the purposes of this subsection or that belongs to a class of transactions or property so prescribed.
Notwithstanding anything to the contrary in any other Act, a regulation made for the purposes of subsection (3) may take effect as from 21 November 1986 or a later day.
A person, being a party to a transaction to which this Division applies which is not effected or evidenced by an instrument chargeable with ad valorem duty in accordance with the Second Schedule under:
(a) paragraph (1), (2) or (3) under the heading “Transfer of Shares”,
(b) the heading “Conveyances of Any Property”, or
(c) any other heading whereby duty is charged as on a conveyance of property,
shall, if the person would have been liable to pay such ad valorem duty in respect of the transaction had such an instrument been executed, lodge with the Chief Commissioner a statement in respect of the transaction.
A person, being a party to a transaction to which this Division applies which is not effected or evidenced by an instrument chargeable with duty in accordance with Division 19 shall, if the person would have been liable to pay such duty in respect of the transaction had such an instrument been executed, lodge with the Chief Commissioner a statement in respect of the transaction.
A person, being a party to a transaction to which this Division applies by virtue of section 44 (1B), must lodge with the Chief Commissioner a statement in respect of the transaction.
(Repealed)
A person, being a party to a transaction to which this Division applies by virtue of section 44 (1A) which is not effected or evidenced by an instrument chargeable with ad valorem duty in accordance with section 91, shall, if the person would have been liable to pay such duty in respect of the transaction had such an instrument been executed, lodge with the Chief Commissioner a statement in respect of the transaction.
A person is not required to lodge a statement under this section in respect of a transaction which causes or results in a change in the beneficial ownership of an estate or interest in shares or units in a unit trust scheme or in land situated in New South Wales as a consequence of a transfer of units in a unit trust scheme:
(a) in respect of which stamp duty of not less than an amount, that but for this paragraph, would be chargeable under this section is paid in a place outside New South Wales, or
(b) which is exempt from duty in a place outside New South Wales.
A person is not required to lodge a statement under this section in respect of a transaction which causes or results in a change in the beneficial ownership of an estate or interest in shares in a company which is registered, recorded or entered on a register of the members of the company lawfully kept in the United Kingdom:
(a) in respect of which ad valorem duty in accordance with the law of the United Kingdom is paid, or
(b) which is exempt from duty under the law of the United Kingdom.
The statement shall be lodged within 2 months after the change in beneficial ownership or, in the case of a statement for the purposes of subsection (1B), after the date of issue of the shares concerned, which is caused by or results from the transaction.
The statement shall be in a form approved by the Chief Commissioner.
The statement (not being a statement for the purposes of subsection (1B)) shall, for the purposes of this Act, be deemed to be an instrument effecting the transaction to which it relates and is chargeable with the ad valorem duty or duty referred to in subsection (1), (1A) or (2A) appropriate to the transaction.
A statement for the purposes of subsection (1B) is taken to be an instrument effecting the transaction to which it relates and is chargeable with ad valorem duty as set out in the Second Schedule under the heading “Conveyances of Any Property”.
The statement shall, for the purposes of this Act, be deemed to have been first executed on the date on which the change in beneficial ownership occurs or, in the case of a statement for the purposes of subsection (1B), on the date of issue of the shares concerned.
The ad valorem duty with which a statement is chargeable shall be charged on:
(a) the unencumbered value of the property (other than any goods, wares or merchandise to which section 43B (1) applies) the subject of the transaction as at the date on which the change in beneficial ownership occurs or, in the case of a statement for the purposes of subsection (1B), on the date of issue of the shares concerned, or
(b) the amount of the consideration (other than consideration relating to any goods, wares or merchandise to which section 43B (1) applies) in respect of the transaction,
whichever is the greater, and shall be paid at the time of lodgment of the statement with the Chief Commissioner by the person required to lodge the statement.
If:
(a) 2 or more transactions to which this Division applies, or
(b) at least one transaction to which this Division applies and at least one instrument liable to ad valorem duty under this Act,
are entered into or executed, as the case may be:
(c) in relation to separate parts of, or separate estates or interests in, the same property,
(d) between the same parties or between one party and other parties, where the other parties are not at arms’ length from each other, and
(e) within, or apparently within, a period of 12 months of each other,
the transactions or the transactions and instruments, as the case requires, shall, unless the Chief Commissioner is satisfied that it would not be just and reasonable in the circumstances, be deemed to constitute a single transaction relating to the whole of the property concerned and ad valorem duty shall be chargeable on:
(f) the unencumbered value of the whole of that property as at the date on which the change in beneficial ownership occurs, or
(g) the total amount of the consideration in respect of the whole of that property,
whichever is the greater.
If ad valorem duty has been paid in respect of a transaction or instrument referred to in subsection (1), the duty payable under that subsection shall be reduced by the amount of duty so paid.
An instrument executed for the purpose of effecting or evidencing or apparently for the purpose of effecting or evidencing a transaction to which this Division applies, being a transaction in respect of which a statement has been duly stamped in accordance with section 44A, is not chargeable with duty under this Act to the extent to which duty has been paid on the statement.
An approved rental-purchase agreement is exempt from duty.
Nothing in this Schedule exempts from duty an agreement for the sale or conveyance of any property or a conveyance of any property entered into as a consequence of the exercise of an option under an approved rental-purchase agreement.
(Section 45AB)
This scheme is intended to assist a person who, as an owner of a home on flood-prone land, has entered into a contract for the sale of the land to the council of the local government area in which the land is situated and then purchases another home. The scheme enables such a person to choose to pay stamp duty on the contract for the purchase of the new home by instalments over a period of 5 years (instead of at the time of purchase).
Contracts executed on or after 1 January 1989 are eligible for consideration under the scheme.
A person may apply under the scheme if:
(a) the person was the owner of at least 50 per cent of the beneficial interest in the land sold or being sold to the council, and
(b) the person has entered into a contract for the purchase of a home intended to be occupied as the person’s principal place of residence.
The contract for the purchase of the new home is eligible for consideration under the scheme if the amount paid for the home is the full market value. Wholly or partially gifted property is not eligible.
Clauses 7 and 9–15 of Part 1 of Schedule 2A apply to this scheme in the same way as they apply to the First Home Purchase Scheme.
In this Schedule:
(Section 73AA)
The scheme is intended to provide a stamp duty exemption, at the discretion of the Chief Commissioner, in respect of:
(a) the conveyance of a principal place of residence from a corporation or special trust to certain persons, or
(b) the conveyance of any land owned as at 31 December 1986 by a special trust from the trust to certain persons.
In this Schedule:
(a) any person (other than a corporation) whose voting entitlement (whether or not through the holding of shares) in the corporation is 50 per cent or more, or
(b) any person (other than a corporation) who has a voting entitlement (whether or not through the holding of shares) in the corporation where all the persons who have a voting entitlement in the corporation have an equal voting entitlement.
A person’s voting entitlement in a corporation is that proportion of the total voting rights of all shareholders entitled to vote at general meetings of the corporation which the person is entitled to exercise, as a shareholder, at general meetings of the corporation.
A person is to be considered to have a voting entitlement in a corporation (“corporation A”) if the person has a voting entitlement in another corporation (“corporation B”) which itself has a voting entitlement in corporation A.
In a case to which subsection (2) applies, the person’s voting entitlement in corporation A is the proportion which results from multiplying the person’s voting entitlement in corporation B by corporation B’s voting entitlement in corporation A.
If a person has a voting entitlement in the same corporation under different provisions of this clause, or under different applications of the same provision of this clause, the person’s voting entitlement in the corporation is the aggregate of those entitlements.
In determining a person’s voting entitlement for the purposes of this clause, proxies and other authorities to vote held by a shareholder are to be disregarded.
A conveyance of land by a corporation is eligible for exemption under this Schedule if:
(a) the corporation owned the land on 11 September 1990, and
(b) the transferee or each of the transferees is a principal shareholder in the corporation or the spouse of such a principal shareholder (whether or not the principal shareholder is one of the transferees), and
(c) had the transferee or each of the transferees been an owner of the land within the meaning of the Land Tax Management Act 1956 on 31 December that last preceded the date of the conveyance:
(i) the land would, by the operation of section 10 (1) (r) of the Land Tax Management Act 1956, be exempt from land tax in respect of the year in which the conveyance took effect, or
(ii) land tax that, but for section 10 (4) of the Land Tax Management Act 1956, would be leviable or payable in respect of the land for the year in which the conveyance took effect would be reduced by the operation of section 10 (4) of that Act.
If land is conveyed by a corporation to 2 or more persons jointly, each of those persons is, for the purposes of this clause (but without affecting any entitlement to be considered to be a principal shareholder apart from this subclause), to be considered to be a principal shareholder in the corporation if:
(a) each of the persons has a voting entitlement in the corporation, and
(b) the aggregate of the voting entitlements in the corporation of each of those persons would be sufficient to qualify any one person as a principal shareholder in the corporation.
A conveyance of land subject to a special trust is eligible for exemption under this Schedule if:
(a) the land was subject to the special trust on 11 September 1990, and
(b) the transferee or each of the transferees was:
(i) the settlor of the land or the person who actually paid the purchase moneys for the land when the land was acquired by the trustee under the trust, or
(ii) a beneficiary of the special trust immediately before the conveyance took effect and a beneficiary of the trust when the land was acquired by the trustee under the trust, or
(iii) the spouse of a person referred to in subparagraph (i) or (ii), and
(c) the transferee or each of the transferees will hold the land beneficially, and
(d) had the transferee or each of the transferees been an owner of the land within the meaning of the Land Tax Management Act 1956 on 31 December that last preceded the date of the conveyance:
(i) the land conveyed would, by the operation of section 10 (1) (r) of the Land Tax Management Act 1956, be exempt from land tax in respect of the year in which the conveyance took effect, or
(ii) land tax that, but for section 10 (4) of the Land Tax Management Act 1956, would be leviable or payable in respect of the land for the year in which the conveyance took effect would be reduced by the operation of section 10 (4) of that Act.
A conveyance of land by a corporation (not acting in the capacity of a trustee) is eligible for exemption under this Schedule if:
(a) the corporation owned the land on 11 September 1990, and
(b) the transferee or each of the transferees is a person, or the spouse of a person, who is a beneficiary under a special trust and was a beneficiary under the trust when the land was acquired by the corporation, and
(c) the trustee under the special trust is a principal shareholder in the corporation (or would, if the trustee were not a corporation, be a principal shareholder in the corporation) at the time of the conveyance, and
(d) had the transferee or each of the transferees been the owner within the meaning of the Land Tax Management Act 1956 on 31 December that last preceded the date of the conveyance:
(i) the land conveyed would, by the operation of section 10 (1) (r) of the Land Tax Management Act 1956, be exempt from land tax in respect of the year in which the conveyance took effect, or
(ii) land tax that, but for section 10 (4) of the Land Tax Management Act 1956, would be leviable or payable in respect of the land for the year in which the conveyance took effect would be reduced by the operation of section 10 (4) of that Act.
A conveyance of land to a corporation by a person in the person’s capacity as trustee of a special trust is eligible for exemption under this Schedule if:
(a) the land was subject to the special trust on, and at all times between, 31 December 1986 and 11 September 1990, and
(b) section 160ZZN (Transfer of asset to wholly-owned company) of the Income Tax Assessment Act 1936 of the Commonwealth applies to the disposal of land effected by the conveyance, and
(c) pursuant to that section, Part IIIA (Capital Gains and Capital Losses) of that Act (except that section) does not apply to that disposal.
Division 30 of Part 3 (Acquisitions of company and unit trust interests dutiable as conveyances of land) does not apply to the issue or allotment of shares in a corporation pursuant to a conveyance for which an exemption from the payment of duty is granted under this Schedule.
If:
(a) a conveyance of land would be eligible for exemption under clause 4, 5 or 6 but for the fact that the land is not land to which clause 4 (1) (c), 5 (d) or 6 (d) applies because it was not used and occupied solely as a principal place of residence at the relevant time, and
(b) the land value of the land was entitled to be reduced under section 9C of the Land Tax Management Act 1956 at the relevant time,
the amount on which the conveyance is to be charged with ad valorem duty is to be reduced in the same proportion as the land value was entitled to be reduced under section 9C of the Land Tax Management Act 1956.
This clause applies to a conveyance first executed on or after 14 September 1994.
An application under this Schedule is to be made to the Chief Commissioner in a form approved by the Chief Commissioner, completed as required by that form.
If the land to which the conveyance relates is or includes land under the Real Property Act 1900, the application must be accompanied by an undertaking from the transferee in a form approved by the Chief Commissioner that:
(a) the duty which would be payable on the conveyance but for the granting of an exemption under this Schedule will be paid if the transferee does not become the registered proprietor of the land within 2 months (or such longer period as the Chief Commissioner may at any time determine and notify in writing to the transferee) after the conveyance is stamped as exempt from the payment of duty, and
(b) the transferee will, within 1 month after becoming the registered proprietor of the land (or such longer period as the Chief Commissioner may at any time determine and notify in writing to the transferee), provide evidence of that fact to the satisfaction of the Chief Commissioner.
An application is to be determined solely at the discretion of the Chief Commissioner whose decision is final.
An application is not to be granted unless the Chief Commissioner is satisfied that all land tax payable in respect of the land (including any additional land tax payable by way of penalty or otherwise) has been paid.
If the application is granted, the Chief Commissioner is to stamp the conveyance as exempt from the payment of duty.
If a requirement of an undertaking from a transferee is not met, the Chief Commissioner may recover from the person, as a debt in a court of competent jurisdiction, the duty which, but for this Schedule, would be payable on the conveyance.
This Schedule applies to the transfer of shares in a private company or units in a private trust scheme, the ownership of which entitles the owner to the exclusive possession, or substantially exclusive possession, of a dwelling in a building containing more than one separate dwelling, in the same way as it applies to a conveyance of land, with such modifications as may be necessary.
(Repealed)
(Section 144A)
The regulations may contain provisions of a savings or transitional nature consequent on the enactment of the following Acts:
• State Revenue Legislation Further Amendment Act 1995
• State Revenue Legislation (Miscellaneous Amendments) Act 1996
• State Revenue Legislation Amendment Act 1997
• State Revenue Legislation Further Amendment Act 1997
• Traffic Legislation Amendment Act 1997, but only in relation to the amendments made to this Act
• State Revenue Legislation (Miscellaneous Amendments) Act 1998
• State Revenue Legislation Further Amendment Act 2000
• State Revenue Legislation Amendment Act 2002
Any such provision may, if the regulations so provide, take effect from the date of assent to the Act concerned or a later day.
To the extent to which any such provision takes effect from a date that is earlier than the date of its publication in the Gazette, the provision does not operate so as:
(a) to affect, in a manner prejudicial to any person (other than the State or an authority of the State), the rights of that person existing before the date of its publication, or
(b) to impose liabilities on any person (other than the State or an authority of the State) in respect of anything done or omitted to be done before the date of its publication.
Despite the repeal of the Stamp Duties (Churches) Amendment Act 1977, section 4 of that Act continues to have effect and is taken to have been transferred to this Act.
Section 4 of the Stamp Duties (Churches) Amendment Act 1977 is a transferred provision to which section 30A of the Interpretation Act 1987 applies.
The amendments made to this Act by Schedule 8 to, and section 4 of, the Stamp Duties (Further Amendment) Act 1986 and the amendments made to this Act by Schedule 3 to, and section 4 of, the Stamp Duties (Amendment) Act 1987 do not apply to a loan security executed before 1 January 1987.
Division 30 of Part 3 does not apply to or in respect of:
(a) an interest or land use entitlement acquired in a landholder, being a private company, on or after 21 November 1986 if it was acquired pursuant to an agreement entered into before that date, or
(b) an interest or land use entitlement acquired in a landholder, being a private unit trust scheme, on or after the date of assent to the Stamp Duties (Amendment) Act 1987 if it was acquired pursuant to an agreement entered into before that date.
No duty is chargeable under Division 30 of Part 3 in respect of the acquisition prior to 1 September 1988 of an interest in a landholder in so far as the landholder’s interest in land was that of a lessee or a mortgagee, chargee or other encumbrancee.
A guarantee executed before 16 May 1988 is to be taken to be duly stamped if it has been stamped with the duty applicable to a guarantee which does not relate to more than one distinct matter within the meaning of section 17, even though it may relate to several such distinct matters.
Despite section 17, a guarantee executed on or after 16 May 1988 having more than one guarantor is liable to duty in respect of:
(a) not more than one joint guarantee contained in the instrument, and
(b) each guarantor in the instrument,
and is not otherwise liable to duty as a guarantee.
Section 77 (2), as amended by the Stamp Duties (Amendment) Act 1988, applies to a lease whether executed before, on or after 1 January 1989.
The provisions of section 84 (3B) and (3C), as inserted by the Stamp Duties (Amendment) Act 1988, apply to:
(a) a loan security executed on or after 1 January 1989, and
(b) a guarantee or indemnity whether executed before, on or after 1 January 1989.
Paragraph (35) of the General Exemptions from Stamp Duty under Part 3 in the Second Schedule does not apply to an agreement for sale or conveyance, or a conveyance, entered into by a purchaser pursuant to an application made on or before 29 November 1987 to purchase the land the subject of the agreement or conveyance.
An agreement for sale or conveyance of the kind referred to in paragraph (35) of the General Exemptions from Stamp Duty under Part 3 in the Second Schedule which was executed on or after 1 February 1988 but in respect of which the property the subject of the agreement was not conveyed until on or after 1 May 1988 is exempt from duty.
Division 24 of Part 3 (as inserted by the Stamp Duties (Amendment) Act 1989) applies in respect of a premium payable for a policy of insurance issued on or after 1 November 1989 or the renewal of which takes effect on or after that day.
If a policy of insurance took effect before 1 November 1989 but is varied on or after that day, the policy is, in respect of any premium payable because of the variation, to be taken for the purposes of Division 24 of Part 3 (as inserted by the Stamp Duties (Amendment) Act 1989) to have taken effect on the date of the variation.
Except as provided by this clause, Division 24 of Part 3, as in force before 1 November 1989, continues to apply to and in respect of insurance which took effect before that day.
A person who, immediately before 1 November 1989, was an approved person under section 88AA and who, after that day, is required to be a registered person for the purposes of Division 24 of Part 3 or carries on business as a life insurer is to be taken, on and from that day (subject to this Act), to be such a registered person.
The amendments made to this Act by section 3 of, and Schedule 1 (6) and (10) (g) and (h) to, the Stamp Duties (Further Amendment) Act 1989 do not apply to a dutiable receipt within the meaning of section 98 (1) which is received before 1 December 1989.
In this clause:
An objection made under the former appeal provisions before the commencement of the new appeal provisions is to be dealt with as an objection under the new appeal provisions, unless subclause (3) otherwise provides.
Subclause (2) does not apply to an objection made under the former appeal provisions if an objector has required a case to be stated to the Supreme Court before, or the time for requiring a case to be stated has expired before, the commencement of the new appeal provisions.
A provision of this Act as in force before the amendment of the provision by the Stamp Duties (Amendment) Act 1990 continues to apply to an instrument referred to in the provision which was executed before the date on which the amendment commenced or is to be taken to have commenced, except as provided by this Part.
An amendment made by the Stamp Duties (Amendment) Act 1990 does not apply to an instrument the subject of the amendment which was executed before the date on which the amendment commenced or is to be taken to have commenced, except as provided by this Part.
The amendment made to section 73AA (6) by the Stamp Duties (Amendment) Act 1990 applies to a conveyance whenever executed.
The amendments made by the Stamp Duties (Amendment) Act 1990 to section 84 (3C) apply to guarantees and indemnities which were executed before 1 June 1990 but do not apply to instruments referred to in that subsection as other instruments which were executed before 1 June 1990.
The amendments made by the Stamp Duties (Amendment) Act 1990 to section 99F (2) apply to a prior acquisition (within the meaning of section 99A (1)) whenever effected and to an instrument whenever executed.
The exemption provided for in the Second Schedule in paragraph (41) of the General Exemptions from Stamp Duty under Part 3 applies to a transfer of, or an agreement for the transfer of, an option to acquire a corporate debt security made on or after 5 January 1990.
In this Part,
A person may apply to the Chief Commissioner for a refund of stamp duty paid before 1 October 1990 by the person in respect of a document intended for use as a cheque but which has not been drawn as a cheque before that date.
An application must be made by means of the approved form.
An application must be made before 1 July 1991.
The Chief Commissioner must, in respect of an application, make a refund of duty unless the Chief Commissioner is satisfied that no refund is payable.
Section 15 and Regulations 26–32A of the Stamp Duties Regulations 1934 do not apply to or in respect of a refund under this clause.
A cheque on which stamp duty is expressed to have been paid may be drawn or otherwise dealt with on or after 1 October 1990 even though no such duty has been paid or duty paid has been refunded.
A provision of this Act as in force before the amendment of the provision by the Stamp Duties (Miscellaneous Amendments) Act 1990 continues to apply to an instrument referred to in the provision which was executed, or a transaction referred to in the provision that was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
An amendment made by the Stamp Duties (Miscellaneous Amendments) Act 1990 does not apply to an instrument which was executed, or a transaction which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
An instrument which has the sole purpose of amending an approved superannuation scheme is taken to be duly stamped if, on or after 1 May 1990 and before 1 January 1991, a $20 adhesive stamp was affixed to it.
Section 13 (2A) applies in respect of a fine or penalty imposed at any time before or after the commencement of that subsection and interest which has accrued at any time before or after that commencement on any such fine or penalty.
The amendments made by Schedule 1 (26), (27) and (28) to the Stamp Duties (Miscellaneous Amendments) Act 1990 apply in respect of advances made on or after 1 January 1991.
The amendments made by Schedule 1 (32) and (33) to the Stamp Duties (Miscellaneous Amendments) Act 1990 apply in respect of premiums received after 1 January 1991 in relation to disability income insurance whether or not that insurance was effected before that date.
Section 10A of the Land Tax Management Act 1956, as in force immediately before the commencement of section 73AA of this Act (as enacted by the Stamp Duties (Amendment) Act 1989), continues to apply to and in respect of a conveyance executed before that commencement.
Section 73AA of this Act, as in force immediately before the commencement of Schedule 2D, continues to apply to and in respect of a conveyance of the kind to which clause 4 or 5 of that Schedule applies, executed before that commencement.
A provision of this Act as in force before the amendment of the provision by the Stamp Duties (Amendment) Act 1991 continues to apply to an instrument referred to in the provision which was executed, or a transaction referred to in the provision which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
An amendment made by the Stamp Duties (Amendment) Act 1991 does not apply to an instrument which was executed, or a transaction which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
Without limiting section 30 of the Interpretation Act 1987, an amendment made by section 3 of, and Schedule 3 to, the Stamp Duties (Amendment) Act 1991 does not affect a liability to duty existing before the date of assent to that Act of any instrument.
An application made under section 15 as in force immediately before 1 January 1992 which had not been finally determined before that date is taken to be an application under that section as in force after that date.
A provision of this Act as in force before the amendment of the provision by the Stamp Duties (Amendment) Act 1992 continues to apply to an instrument referred to in the provision which was executed, or a transaction referred to in the provision which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
An amendment made by the Stamp Duties (Amendment) Act 1992 does not apply to an instrument which was executed, or a transaction which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
Section 68 (as amended by the Stamp Duties (Amendment) Act 1992) applies to assessments made before or after the commencement of the amendment.
Section 74CB (as amended by the Stamp Duties (Amendment) Act 1992) applies to separation agreements, and conveyances referred to in section 74CB (3) (as so amended), made within 3 months before the commencement of the amendment or at any time after that commencement.
A provision of this Act as in force before the amendment of the provision by the State Revenue Legislation (Further Amendment) Act 1992 continues to apply to an instrument referred to in the provision which was executed, or a transaction referred to in the provision which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
An amendment made to this Act by the State Revenue Legislation (Further Amendment) Act 1992 does not apply to an instrument which was executed, or a transaction which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
Section 98A (d) (iii) (as amended by the State Revenue Legislation (Further Amendment) Act 1992) applies to a dealing carried out before or after the commencement of the provision.
Section 41, as amended by the State Revenue Legislation (Further Amendment) Act 1992, applies to an agreement executed before or after the commencement of the amendment, but not so as to affect the use of evidence admitted before that commencement.
Clauses 35 and 36 were proposed to be inserted by item (5) of Part 1 of Sch 6 to the State Revenue Legislation (Further Amendment) Act 1992 No 86. The amendment was not commenced and was repealed by the Statute Law (Miscellaneous Provisions) Act 1997 No 55.
A provision of this Act as in force before the amendment of the provision by the State Revenue Legislation (Amendment) Act 1994 continues to apply to an instrument referred to in the provision which was executed, or a transaction referred to in the provision which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part.
An amendment made to this Act by the State Revenue Legislation (Amendment) Act 1994 does not apply to an instrument which was executed, or a transaction which was entered into, before the date on which the amendment commenced or is taken to have commenced, except as provided by this Part or the amendment.
A transaction that falls within paragraph (b) of the definition of
A transaction that falls within paragraph (e) of the definition of
Section 98A (cb) is taken to have commenced on, and not to have had effect before, 1 July 1994, despite section 2 of the State Revenue Legislation (Amendment) Act 1994.
A provision of this Act as in force before the amendment of the provision by the State Revenue Legislation Amendment Act 1995 continues to apply to an instrument referred to in the provision that was executed, or a transaction referred to in the provision that was entered into, before 1 July 1995.
An amendment made to this Act by the State Revenue Legislation Amendment Act 1995 does not apply to an instrument that was executed, or a transaction that was entered into, before 1 July 1995.
In this Part,
Clause 5 of the Stamp Duties Regulation 1991 is unaffected by the repeal of section 44 (3) by the State Revenue Legislation (Amendment) Act 1994, and continues to have effect (and is taken always to have had effect) for the purposes of section 44 (3), as inserted by the amending Act, and may be amended or repealed accordingly.
Section 41 (3B), as in force immediately before 1 January 1996, is taken to apply to any transaction of the kind referred to in that subsection (being a transaction in respect of which the first agreement for the sale or conveyance of property was executed before 1 January 1996) as if that subsection had not been amended by the amending Act.
Any decision made before 1 January 1996 by the Treasurer under section 66H is taken to have been made by the Chief Commissioner of Stamp Duties.
Anything done before 1 January 1996 by or in relation to either of the Ministers referred to in paragraphs (24) and (32) of the General Exemptions from Stamp Duty in the Second Schedule are taken to have been done by or in relation to the Chief Commissioner of Stamp Duties.
A provision of this Act as in force before the amendment of the provision by the State Revenue Legislation (Miscellaneous Amendments) Act 1996 continues to apply to an instrument referred to in the provision that was executed, or a transaction referred to in the provision that was entered into, before the amendment took effect, except as provided by regulations made under Part 1A.
An amendment made to this Act by the State Revenue Legislation (Miscellaneous Amendments) Act 1996 does not apply to an instrument that was executed, or a transaction that was entered into, before the amendment took effect, except as provided by regulations made under Part 1A.
The amendments made to Division 24 of Part 3 by the State Revenue Legislation Amendment Act 1997 apply to:
(a) premiums paid on or after 1 July 1997, and
(b) premiums paid on or after 7 May 1997 and before 1 July 1997 for policies of insurance and renewals of policies of insurance that take effect on or after 1 July 1997.
However, the amendments referred to in subclause (1) do not apply to premiums paid in relation to Class 2 insurance within the meaning of section 86 (1), being:
(a) premiums received on or after 7 May 1997 for a policy of insurance, or for the renewal of a policy of insurance, that was current before that date but not fully paid and that had a period of cover that extended past 1 July 1997, or
(b) premiums due before 1 July 1997 but received on or after that date.
Stamp duty on a premium to which subclause (1) (b) applies that would otherwise be payable before 1 July 1997 is not payable before that date.
This clause applies:
(a) to a loan security the date of first execution of which occurs on or after 1 November 1996 and before 1 July 1997, and
(b) as if the Consumer Credit (New South Wales) Code had not commenced, and
(c) despite section 84EB as in force before 1 July 1997.
In this clause,
(a) a regulated contract within the meaning of the Credit Act 1984 other than a contract deemed by section 73 of that Act to be a regulated contract that would not otherwise be a regulated contract, or
(b) a contract that would be a regulated contract referred to in paragraph (a):
(i) if section 18 (1) of that Act had not been enacted, and
(ii) if the amount of $35,000 were prescribed for the purposes of section 5 (4) of that Act.
Notwithstanding any other provision of this Act, duty is not chargeable in respect of a loan security in so far as it secures the payment or repayment of an amount payable or repayable under a regulated contract.
Any liability for the payment of death duty under this Act existing before 17 December 1991 (the date of assent to the Stamp Duties (Amendment) Act 1991) is extinguished.
A person is not entitled to a refund of any death duty paid under this Act before the commencement of this clause.
Division 21 of Part 3 does not apply to advances made on or after the commencement of Schedule 1 [23] to the State Revenue Legislation Amendment Act 2002 if the advances are secured only by a loan security within the meaning of section 83.
This clause applies whether or not the loan security would, if first executed on or after 1 July 1998, be a mortgage within the meaning of section 205 of the Duties Act 1997 (despite section 1A (8) of this Act).
0
0
0